Problems with the economy have been building for decades, President Barack Obama told CBS program "60 Minutes" in an interview set to air Sunday, Dec. 11."I've always believed that this was a long-term project," the president said. "Reversing structural problems in our economy that had been building up for two decades, that was going to take time."Obama was asked whether he understood the difficu...
The routine has been drearily repetitive since the euro debt crisis erupted two years ago: itchy markets jostle the euro; eurozone officials promise to sort out kinks in the system; European Union leaders meeting at a "crisis summit" in Brussels declare the problem solved; after an initial surge, markets return to torment the single currency.But with each cycle, the tension rises. E.U. leaders mee...
"Excuse me ladies and gentlemen, may I have your attention please. Pardon the interruption..."The announcement is familiar to many New Yorkers, who as they ride the subway, get visits from various people asking for their spare change, sometimes in exchange for an accordion tune, a belted 1960s ballad, or a pack of M&M peanuts. Probably few of those travelers know that at least one of those peddler...
Here's a piece of investment advice your parents aren't likely to give you: “I’d buy cocaine rather than buy that s---” That was billionaire lawyer Joe Jamail talking about investing in hedge funds. You'll find wisdom from him, and nine other billionaires, in a Bloomberg Markets magazine in a piece called Advice From Billionaires by Matthew G. Miller and Peter Newcomb. We ha...
I'm not a regular Oprah viewer - which is more a reflection of how much free time I have than how I feel about the woman personally - but I do have a good friend who is in love with Oprah's current Life Class series. She brought to my attention a recent life lesson that focused on people who are living financial lies. According to Oprah and special guest Suze Orman (and me), you can't be happy...